Số No. 05 (36) (36)-2025 Journal of Finance & Accounting Research - Trang 86

Tóm tắt tiếng Việt:

English Summary:

This study investigates the impact of structural capital on the financial performance of retail companies listed on the Vietnamese stock market, based on a dataset of 421 observations from 55 companies over the period from 2016 to 2023. Using both Return on Assets (ROA) and Tobin’s Q (ToQ) as measures of financial performance, the analysis reveals that structural capital (SCE) has a positive and statistically significant effect on both ROA and ToQ. The study finds that an increase in structural capital leads to improvements in financial performance, with the impact being similar across companies using standalone and consolidated financial statements. However, the effect on ToQ is slightly stronger in companies using consolidated financial statements, suggesting that the type of financial reporting can influence the magnitude of the impact of structural capital. Additionally, firm size (SIZE) was found to have a negative impact on ROA but a positive impact on ToQ, while financial leverage (DA) negatively affected ROA and positively influenced ToQ. The results highlight the importance of structural capital as a key driver of financial performance and suggest that investments in intangible assets, as well as the adoption of comprehensive financial reporting practices, can enhance operational efficiency and market value.

Từ khóa: intellectual capital, stuctural capital, financial efficiency, accounting, finance.

Số lượt đọc: 25 - Số lượt tải về: 16

DOI Code: https://doi.org/10.71374/jfar.v25.i5.17