The determinants of hotel financial performance: an intellectual capital perspective

References

• Alipour, M. (2012). The effect of intellectual capital on firm performance: An investigation of Iran insurance companies. Measuring Business Excellence, 16(1), 53–66. doi:10.1108/13683041211204671
   Google Scholar
• Amit, R., & Schoemaker. (1993). Strategic assets and organizational rent. Strategic Management Journal, 14, 33–46. doi:10.1002/smj.4250140105
   Web of Science ®Google Scholar
• Arasli, H., Alphun, C., & Arici, H. E. (2019). Can balanced scorecard adoption mediate the impacts of environmental uncertainty on hotel performance? The moderating role of organizational decision-making structure. Journal of Hospitality Marketing & Management, 1–29.
   Web of Science ®Google Scholar
• Ariff, A. H. M., Islam, A., & Zijl, T. (2016). Intellectual capital and market performance: The case of multinational R&D firms in the US. The Journal of Developing Areas, 50(5), 487–495. doi:10.1353/jda.2016.0052
   Google Scholar
• Barney, J. (2001). Is the resource-based “view” a useful perspective for strategic management research? Yes. Academy of Management Review, 26(1), 41–56.
   Web of Science ®Google Scholar
• Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17, 99–120. doi:10.1177/014920639101700108
   Web of Science ®Google Scholar
• Bidaki, S., & Hejazi, R. (2014). Effects of profitability on the Intellectual capital disclosure in listed companies in Tehran stock exchange. International Journal of Education and Applied Sciences, 1(5), 248–255.
   Google Scholar
• Bontis, N. (2004). National intellectual capital index: a United Nations initiative for the Arab region. Journal of intellectual capital, 5(1), 13–39.
   Google Scholar
• Bontis, N., Janoševic, J., & Dženopoljac, V. (2015). Intellectual capital in Serbia’s hotel industry. International Journal of Contemporary Hospitality Management, 27(6), 1365–1384. doi:10.1108/IJCHM-12-2013-0541
   Web of Science ®Google Scholar
• Brennan, N., & Connell, B. (2000). Intellectual capital: Current issues and policy implications. Journal of Intellectual Capital, 1(3), 206–240. doi:10.1108/14691930010350792
   Google Scholar
• Bromiley, P., Rau, D., & Zhang, Y. (2017). Is R & D risky? Strategic Management Journal, 38(4), 876–891. doi:10.1002/smj.2520
   Web of Science ®Google Scholar
• Bryl, Ł, & Truskolaski, S. (2015). The intellectual capital effectiveness and enterprises performance-empirical study of polish listed companies using vaic method. In A. (pp. 933-942).
   Google Scholar
• Celenza, D., & Rossi, F. (2014). Intellectual capital and performance of listed companies: Empirical evidence from Italy. Measuring Business Excellence, 18(1), 22–35. doi:10.1108/MBE-10-2013-0054
   Google Scholar
• Chandrapala, P. (2013). The value relevance of earnings and book value: The importance of ownership concentration and firm size. Journal of Competitiveness, 5(2), 98–107. doi:10.7441/joc.2013.02.07
   Google Scholar
• Chen, M. C., Cheng, S. J., & Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital, 6(2), 159–176. doi:10.1108/14691930510592771
   Google Scholar
• Chu, S. K. W., Chan, K. H., Yu, K. Y., Ng, H. T., & Wong, W. K. (2011). An empirical study of the impact of intellectual capital on business performance. Journal of Information & Knowledge Management, 10(1), 11–21. doi:10.1142/S0219649211002791
   Google Scholar
• Clarke, M., Seng, D., & Whiting, R. H. (2011). Intellectual capital and firm performance in Australia. Journal of Intellectual Capital, 12(4), 505–530. doi:10.1108/14691931111181706
   Google Scholar
• Dar, L., Naseem, M. A., Niazi, G. S. K., & Rehman, R. U. (2011). Corporate governance and firm performance: A case study of Pakistan oil and gas companies listed in Karachi stock exchange. Global Journal of Management and Business Research, 11(8).
   Google Scholar
• Dewi, K., Young, M., & Sundari, R. (2014). Firm characteristics and intellectual capital disclosure on service companies listed in Indonesia stock exchange period 2008-2012. Merit Research Journal of Accounting, Auditing, Economics and Finance, 2(2), 22–35.
   Google Scholar
• Dezie, L. W., Michael, W. H., & Indah, J. (2015). The relationship between intellectual capital and operating performance of Indonesian companies in the hospitality industry. Advanced Science Letters, 21, 781–784. doi:10.1166/asl.2015.5875
   Google Scholar
• Dzenopoljac, V., Yaacoub, C., Elkanj, N., & Bontis, N. (2016). Impact of intellectual capital on corporate performance: Evidence from the Arab region. Journal of Intellectual Capital, 18(4), 884–903. doi:10.1108/JIC-01-2017-0014
   Web of Science ®Google Scholar
• Edvinsson, L., & Malone, M. S. (1997).Intellectual Capital: The Proven Way toEstablish your Company’s Real Value by Measuring it Hidden Brain Power, Piatkus, London.
   Google Scholar
• Eftekhare, H., Asgaryan, N., & Seyyedy, S. A. (2014). Studying the effective factors in performance of intellectual capital in banks accepted in Tehran stock exchange. Applied mathematics in Engineering. Management and Technology, 2(3), 145–150.
   Google Scholar
• El‐Bannany, M. (2008). A study of determinants of intellectual capital performance in banks: The UK case. Journal of Intellectual Capital, 9(3), 487–498. doi:10.1108/14691930810892045
   Google Scholar
• El‐Bannany, M. (2012). Global financial crisis and the intellectual capital performance of UAE banks. Journal of Human Resource Costing & Accounting, 16(1), 20–36. doi:10.1108/14013381211272626
   Google Scholar
• Engstrom, T., Westnes, P., & Westnes, S. F. (2003). Evaluating intellectual capital in the hotel industry. Journal of Intellectual Capital, 4(3), 287–303. doi:10.1108/14691930310487761
   Google Scholar
• Ezeamama, A. E., Elkins, J., Simpson, C., Smith, S. L., Allegra, J. C., & Miles, T. P. (2016). Indicators of resilience and healthcare outcomes: Findings from the 2010 health and retirement survey. Quality of Life Research, 25(4), 1007–1015. doi:10.1007/s11136-015-1144-y
   PubMed Web of Science ®Google Scholar
• Firer, S., & Williams, S. M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348–360. doi:10.1108/14691930310487806
   Google Scholar
• Gajjar, T., & Okumus, F. (2018). Diversity management: What are the leading hospitality and tourism companies reporting?. Journal of Hospitality Marketing & Management, 27(8), 905–925. doi:10.1080/19368623.2018.1465505
   Web of Science ®Google Scholar
• Gaur, J., & Gupta, R. (2011). Comparing firm performance on the basis of age, size, leverage, and group affiliation on Indian IT industry. Romanian Journal of Marketing, 3, 8–13.
   Google Scholar
• Goh, P. C. (2005). Intellectual capital performance of commercial banks in Malaysia. Journal of Intellectual Capital, 6(3), 385–396. doi:10.1108/14691930510611120
   Google Scholar
• Gomes, P., & Kuehn, Z. (2017). Human capital and the size distribution of firms. Review of Economic Dynamics, 26, 164–179. doi:10.1016/j.red.2017.03.004
   Web of Science ®Google Scholar
• Hall, R. (1992). The strategic analysis of intangible resources. Strategic Management Journal, 13(2), 135–144. doi:10.1002/(ISSN)1097-0266
   Web of Science ®Google Scholar
• Hanafi, M. M., & Halim, A. 2005. Financial statement analysis.
   Google Scholar
• Hejazi, R., Ghanbari, M., & Alipour, M. (2016). Intellectual, human and structural capital effects on firm performance as measured by Tobin’s Q. Knowledge and Process Management, 23(4), 259–273. doi:10.1002/kpm.1529
   Web of Science ®Google Scholar
• Huang, C. E., & Liu, C. H. (2019). Impacts of social capital and knowledge acquisition on service innovation: An integrated empirical analysis of the role of shared values. Journal of Hospitality Marketing & Management, 28(5), 645–664. doi:10.1080/19368623.2019.1540957
   Web of Science ®Google Scholar
• Human Capital Report. (2016). World Economic Forum, retrieved from World Economic Forum Website. http://www3.weforum.org/docs/HCR2016_Main_Report.pdf
   Google Scholar
• Janosevic, S., Dzenopoljac, V., & Bontis, N. (2013). Intellectual capital and financial performance in Serbia. Knowledge and Process Management, 20(1), 1–11. doi:10.1002/kpm.1404
   Google Scholar
• Joshi, M, Cahill, D, Sidhu, J, & Kansal, M. (2013). Intellectual capital and financial performance: an evaluation of the australian financial sector. Journal Of Intellectual Capital, 14(2), 264-285. doi:10.1108/14691931311323887
   Google Scholar
• Kamath, G. B. (2007). The intellectual capital performance of the Indian banking sector. Journal of Intellectual Capital, 8(1), 96–123. doi:10.1108/14691930710715088
   Google Scholar
• Kangarlouei, S. J, Azizi, A, Farahani, M. S, & Motavassel, M. (2012). The search for the best financial performance measure of companies listed in tehran stock exchange (tse). World Applied Sciences Journal, 16(3), 407-414.
   Google Scholar
• Kartikasari, & Merianti. (2016). The effect of leverage and firm size to profitability of public manufacturing companies in Indonesia. International Journal of Economics and Financial Issues, 6(2), 409–413.
   Google Scholar
• Kujansivu, P., & Lönnqvist, A. (2007). Investigating the value and efficiency of intellectual capital. Journal of Intellectual Capital, 8(2), 272–287. doi:10.1108/14691930710742844
   Google Scholar
• Kuncová, M, Hedija, V, & Fiala, R. (2016). Firm size as a determinant of firm performance: the case of swine raising. Agris On-line Papers in Economics and Informatics, 8(665-2016-45098), 77-89. doi:10.7160/aol.
   Google Scholar
• Laing, G., Dunn, J., & Hughes-Lucas, S. (2010). Applying the VAIC TM model to Australian hotels. Journal of Intellectual Capital, 11(3), 269–283. doi:10.1108/14691931011064545
   Google Scholar
• Lee, J., Weber, M. R., & Rivera, J. D. (2019). A sociocultural perspective on expatriation willingness: The mediating role of cultural intelligence. Journal of Hospitality Marketing & Management, 28(1), 124–145. doi:10.1080/19368623.2018.1489326
   Web of Science ®Google Scholar
• Levinthal, D., & Myatt, J. (1994). Co-evolution of capabilities and industry: The evolution of mutual fund processing. Strategic Management Journal, 15(Special Issue), 45–62. doi:10.1002/smj.4250150905
   Web of Science ®Google Scholar
• Li, H. X., Wang, Z. J., & Deng, X. L. (2008). Ownership, independent directors, agency costs and financial distress: Evidence from Chinese listed companies. Corporate Governance: the International Journal of Business in Society, 8(5), 622–636. doi:10.1108/14720700810913287
   Google Scholar
• Maditinos, D., Chatzoudes, D., Tsairidis, C., & Theriou, G. (2011). The impact of intellectual capital on firms’ market value and financial performance. Journal of Intellectual Capital, 12(1), 132–151. doi:10.1108/14691931111097944
   Google Scholar
• Mahoney, J. T., & Pandian, J. R. (1992). The resource-based view within the conversation of strategic management. Strategic Management Journal, 15, 363–380. doi:10.1002/smj.4250130505
   Web of Science ®Google Scholar
• Maji, S. G., & Goswami, M. (2016). Intellectual capital and firm performance in emerging economies: The case of India. Review of International Business and Strategy, 26(3), 410–430. doi:10.1108/RIBS-03-2015-0019
   Web of Science ®Google Scholar
• Marr, B., Schiuma, G., & Neely, A. (2004). The dynamics of value creation: Mapping your intellectual performance drivers. Journal of Intellectual Capital, 5(2), 312–325. doi:10.1108/14691930410533722
   Google Scholar
• Masuluke, M. F., & Ngwakwe, C. C. (2018). Relationship between human capital investments and firm’s net profit. Journal of Accounting and Management, 8(1), 37–46.
   Google Scholar
• Mavridis, D. G. (2004). The intellectual capital performance of the Japanese banking sector. Journal of Intellectual Capital, 5(1), 92–115. doi:10.1108/14691930410512941
   Google Scholar
• Meek, G. K., & Sidney, J. G. (1998). The value added statement: An innovation for U.S. companies? Accounting Horizons, 2(2), 73–81
   Google Scholar
• Mondal, A., & Ghosh, S. K. (2014). Determinants of intellectual capital disclosure practices of Indian companies. Journal of Commerce & Accounting Research, 3(3), 25–36.
   Google Scholar
• Mouritsen, J. (1998). Driving growth: economic value added versus intellectual capital. Management Accounting Research, 9(4), 461–482. doi:10.1006/mare.1998.0090
   Google Scholar
• Muchiri, H. G. (2012). The Impact of Macroeconomic Variables on the Performance of the Nairobi Securities Exchange. Unpublished MBA project, University of Nairobi.
   Google Scholar
• Muchtar, D., Fauzias, M., Wahyuddin, A., Muhammad, A., & Ansari, S. A. (2018). Dynamic performance of Indonesian public companies: An analysis of financial decision behavior. Cogent Economics & Finance, 6. doi:10.1080/23322039.2018.1488343
   Web of Science ®Google Scholar
• Murthy, V., & Mouritsen, J. (2011). The performance of intellectual capital: Mobilizing relationships between intellectual and financial capital in a bank. Accounting, Auditing & Accountability Journal, 24, 622–646. doi:10.1108/09513571111139120
   Web of Science ®Google Scholar
• Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13, 187–221. doi:10.1016/0304-405X(84)90023-0
   Web of Science ®Google Scholar
• Nadeem, M., Gan, C., & Nguyen, C. (2018). The importance of intellectual capital for firm performance: Evidence from Australia. Aust. Account. Rev, 28, 334–344. doi:10.1111/auar.12184
   Web of Science ®Google Scholar
• Narwal, K. P., & Yadav, N. (2017). The impact of intellectual capital on the Indian real estate sector profitability and productivity. Journal of Commerce and Accounting Research, 6(1), 45-53.
   Google Scholar
• Nason, R. S., & Wiklund, J. (2018). An assessment of resource-based theorizing on firm growth and suggestions for the future. Journal of Management, 44(1), 32–60. doi:10.1177/0149206315610635
   Web of Science ®Google Scholar
• Nassar, S. (2018). The impact of intellectual capital on firm performance of the Turkish real estate companies before and after the crisis. European Scientific Journal, 14(1).
   Google Scholar
• Ognjanovic, J. 2016. Intellectual capital in hotel companies. In: First International Scientific Conference: Tourism in Function of Development of the Republic of Serbia, 430–447.
   Google Scholar
• Oliver, B. (2000). Macroeconomics (2nd ed.). Practice Hall New York.
   Google Scholar
• Ozkan, N, Cakan, S, & Kayacan, M. (2017). Intellectual capital and financial performance: a study of the turkish banking sector. Borsa Istanbul Review, 17(3), 190-198. doi:10.1016/j.bir.2016.03.001
   Web of Science ®Google Scholar
• Ozturk, A., & Karatepe, O. M. (2019). Frontline hotel employees’ psychological capital, trust in organization, and their effects on nonattendance intentions, absenteeism, and creative performance. Journal of Hospitality Marketing & Management, 28(2), 217–239. doi:10.1080/19368623.2018.1509250
   Web of Science ®Google Scholar
• Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics, 61(S1), 653–670. doi:10.1111/obes.1999.61.issue-S1
   Google Scholar
• Penrose, E. T. (1959). The theory of the growth of the firm. New York: John Wiley.
   Google Scholar
• Pervan, M., & Visic, J. (2012). Influence of firm size on its business success. Croatian Operational Research Review, 3, 213–223.
   Google Scholar
• Peteraf, M. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), 179–191. doi:10.1002/(ISSN)1097-0266
   Web of Science ®Google Scholar
• Pew Tan, H, Plowman, D, & Hancock, P. (2007). Intellectual capital and financial returns of companies. Journal Of Intellectual Capital, 8(1), 76-95. doi:10.1108/14691930710715079
   Google Scholar
• Prentice, C., Dominique Lopes, S., & Wang, X. (2019). Emotional intelligence or artificial intelligence–An employee perspective. Journal of Hospitality Marketing & Management, 1–27. doi:10.1080/19368623.2019.1647124
   Web of Science ®Google Scholar
• Pulic, A. 1998. Measuring the performance of intellectual potential in knowledge economy. In 2nd McMaster Word Congress on Measuring and Managing Intellectual Capital by the Austrian Team for Intellectual Potential.
   Google Scholar
• Pulic, A. (2000). VAIC–An accounting tool for IC management. International Journal of Technology Management, 20(5–8), 702–714. doi:10.1504/IJTM.2000.002891
   Web of Science ®Google Scholar
• Pulic, A. (2004). Intellectual capital – Does it create or destroy value? Measuring Business Excellence, 8(1), 62–68. doi:10.1108/13683040410524757
   Google Scholar
• RAJCANIOVA, M, & BIELIK, P. (2008). Determinants of variations in firm-level performance. Acta Oeconomica et Informatica, 11(394-2018-1004), 1-4.
   Google Scholar
• Rasiah, D. (2010). Theoretical framework of profitability as applied to commercial banks in Malaysia. European Journal of Economics, Finance and Administrative Sciences, 19, 74–97.
   Google Scholar
• Riahi-Belkaoui, A. (2003). Intellectual capital and firm performance of US multinational: A study of the resource-based and stakeholder views. Journal of Intellectual Capital, 4(2), 215–226. doi:10.1108/14691930310472839
   Google Scholar
• Roos, G., Pike, S., & Fernstorm, L. (2005). Managing intellectual capital in practice. New York: Butterworth-Heinemann.
   Google Scholar
• Rumelt, R. (1984). Towards a strategic theory of the firm. Competitive Strategic Management.
   Google Scholar
• Salem, I. (2014). Toward better understanding of knowledge management: Correlation to hotel performance and innovation in five-star chain hotels in Egypt. Tourism and Hospitality Research, 14(4), 176–196. doi:10.1177/1467358414542265
   Google Scholar
• Salim, S. B. (2012). The relationship between size and financial performance of commercial banks in Kenya. An unpublished MBA project, University of Nairobi.
   Google Scholar
• Samad, A. (2004). Performance of interest free Islamic banks vis-à-vis interest-based conventional banks of Bahrain. IIUM Journal of Economics and Management, 12(2), 1–25.
   Google Scholar
• Sefidgar, M., Maleki, S., & Minouei, M. (2015). Studying factors that affect intellectual capital performance in listed banks in Tehran stock exchange. Indian Journal of Fundamental and Applied Life Sciences, 5(1), 769–776.
   Google Scholar
• Shareef, F., & Davey, H. (2006). Accounting for intellectual capital: Evidence from listed English football clubs. Journal of Applied Accounting Research, 7(3), 78–116. doi:10.1108/96754260580001042
   Google Scholar
• Shiu, H. J. (2006). Application of the value added intellectual coefficient to measure corporate performance: Evidence from technological firms. International Journal of Management, 23(2), 356–365.
   Google Scholar
• Singh, A. J., & Schmidgall, R. S. (2013). Does Financial Performance Depend on Hotel Size? Analysis of the Financial Profile of the US Lodging Industry. Hospitality Review, 30(2), 6.
   Google Scholar
• Soheili, S., & Pakdel, A. (2012). Intellectual capital performance (Evidence from Iranian banks). Australian Journal of Basic and Applied Sciences, 6(1), 146–152.
   Google Scholar
• Taliyang, S. M., Latif, R., & Mustafa, N. H. (2011). The determinants of intellectual capital disclosure among Malaysian listed companies. International Journal of Management and Marketing Research, 4(3), 25-33.
   Google Scholar
• Tayyaba, K. (2013). Leverage–An analysis and its impact on profitability with reference to selected oil and gas companies. International Journal of Business and Management Invention, 2(7), 50–59.
   Google Scholar
• Ting, I. W. K., & Lean, H. H. (2009). Intellectual capital performance of financial institutions in Malaysia. Journal of Intellectual Capital, 10(4), 588–599. doi:10.1108/14691930910996661
   Google Scholar
• Uadiale, O. M., & Uwuigbe, U. (2011). Intellectual capital and business performance: Evidence from Nigeria. Interdisciplinary Journal of Research in Business, 1(10), 49–56.
   Google Scholar
• Velnampy, T., & Niresh, J. A. (2012). The relationship between capital structure and profitability. Global Journal of Management and Business Research, 12(13), 66-73.
   Google Scholar
• Vinasithamby, S. (2015). Do tax shields of debt and non-debt impact on firms’ performance? Evidence from Sri Lankan land and property sector. Research Journal of Economics and Business Studies, 4(5), 10–22.
   Google Scholar
• Walsh, K., Enz, C., & Canina, L. (2008). The impact of strategic orientation on intellectual capital investments in customer service firms. Journal of Service Research, 10(4), 300–317. doi:10.1177/1094670508314285
   Web of Science ®Google Scholar
• Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5, 171–180. doi:10.1002/(ISSN)1097-0266
   Web of Science ®Google Scholar
• White, G. L. A., & Tower, G. (2007). Drivers of voluntary intellectual capital disclosure in listed biotechnology companies. Journal of Intellectual Capital, 8(3), 517–537. doi:10.1108/14691930710774894
   Google Scholar
• Williams, S. M. (2001). Is intellectual capital performance and disclosure practices related? Journal of Intellectual Capital, 2(3), 192–203. doi:10.1108/14691930110399932
   Google Scholar
• World Investment Report. (2013). Global value chains: investment and trade for development, retrieved from UNCTAD website. https://unctad.org/en/PublicationsLibrary/wir2013_en.pdf
   Google Scholar
• Wu, W., Wu, C., & Rui, O. M. (2012). Ownership and the value of political connections: Evidence from China. European Financial Management, 18(4), 695–729. doi:10.1111/eufm.2012.18.issue-4
   Web of Science ®Google Scholar
• Yaseen, A., Rashidah, A. R., & Abdulsamad, A. (2016). Does government ownership affect corporate governance and corporate disclosure? Evidence from Saudi Arabia. Managerial Auditing Journal, 31, 871–890. doi:10.1108/MAJ-12-2015-1287
   Web of Science ®Google Scholar
• Zhang, Y., Ma, E., & Qu, H. (2018). Transaction cost and resources based views on hotels’ outsourcing mechanism: An empirical study in China. Journal of Hospitality Marketing & Management, 27(5), 583–600. doi:10.1080/19368623.2018.1406834
   Web of Science ®Google Scholar