Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi

Aysel Öztürkçü Akçay

doi:10.53568/yyusbed.1003689

Research Article

Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi

Year 2021, Issue: 53, 355 - 380, 30.09.2021

Aysel Öztürkçü Akçay

https://doi.org/10.53568/yyusbed.1003689

Abstract

Bilgiye dayalı rekabetin yaşandığı günümüz dünyasında işletmelerin sahip olduğu entelektüel sermaye değerleri kurumsal başarının sağlanması ve firma performansının artırılması açısından önem arz etmektedir. Bu çalışmanın amacı yönetim kurulu yapısının entelektüel sermaye performansı üzerinde etkisinin olup olmadığını araştırmaktır. Çalışmada, yönetim kurulu yapısı ve entelektüel sermaye performansı arasındaki ilişki, Borsa İstanbul’da farklı sektörlerde işlem gören 122 firmanın 2015-2018 yılı verileri kullanılarak Sistem-GMM yöntemi ile analiz edilmiştir. Çalışmanın bağımlı değişkenini oluşturan entelektüel sermaye performansı, Entelektüel Sermaye Katma Değer Katsayısı yöntemi ile hesaplanmıştır. Bağımsız değişken olan yönetim kurulu yapısının göstergeleri olarak ise; yönetim kurulu büyüklüğü, bağımsız üye oranı, kadın üye oranı ve yabancı üye oranı kullanılmıştır. Ayrıca karlılık ve büyüklük olmak üzere iki adet kontrol değişkeninden yararlanılmıştır. Model 1 için elde edilen bulgular neticesinde, yönetim kurulu büyüklüğü, yabancı üye oranı ve kadın üye oranlarının entelektüel sermaye performansı üzerinde pozitif ve istatistiksel olarak anlamlı bir etkisinin olduğu tespit edilmiş; ancak bağımsız üye oranının entelektüel sermaye performansı üzerinde istatistiksel olarak anlamlı bir etkisinin olmadığı belirlenmiştir. Model 2 için elde edilen analiz sonuçlarına göre ise, yönetim kurulu büyüklüğü ile bağımsız üye oranının entelektüel sermaye performansını artırdığı bu karşın yabancı üye ve kadın üye oranlarının entelektüel sermaye performansı üzerinde herhangi bir etkisinin olmadığı görülmüştür.

Keywords

Entelektüel sermaye, yönetim kurulu yapısı, dinamik panel veri analizi

References

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Ho, C.A., ve Williams S.M. (2003). International Comparative Analysis of The Association Between Board Structure and The Efficiency of Value Added By A Firm From its Physical Capital and Intellectual Capital Resources. The International Journal of Accounting, 38(4), 465-491.
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Kamath, G.B. (2007). The İntellectual Capital Performance of Indian Banking Sector. Journal of Intellectual Capital, 8(1), 96-123.
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Board Structure Diversity and Intellectual Capital Performance: Dynamic Panel Data Analysis on Borsa İstanbul Firms

Year 2021, Issue: 53, 355 - 380, 30.09.2021

Aysel Öztürkçü Akçay

https://doi.org/10.53568/yyusbed.1003689

Abstract

In our today's world where knowledge-based competition is experienced, intellectual capital values owned by a firm are important in terms of ensuring corporate success and increasing the firm performance. The aim of this study is to investigate the impact of board structure on intellectual capital performance. The relationship between the structure of the board of directors and intellectual capital performance has been analyzed by the System-GMM method, using 2015-2018 data of 122 companies traded in different sectors in Borsa Istanbul. Intellectual capital, which is the dependent variable of the study, has been calculated by the Intellectual Capital Added Value Coefficient method. As the indicators of the board structure, which is an independent variable; board size, the ratio of independent members, the ratio of female members, and the ratio of foreign members have been used. In addition, two control variables (profitability and size) have been used in the study. As a result of the findings obtained for Model 1, a positive and statistically significant correlation has been observed between the size of the board of directors, the ratio of foreign, and female members and the intellectual capital performance; however, a significant relationship has not been obtained between intellectual capital and the ratio of independent members. According to the analysis results obtained for Model 2, it has been observed that the size of the board of directors and the ratio of independent members increase the intellectual capital performance, in spite that the ratio of foreign members and female members has no effect on intellectual capital performance.

Keywords

Intellectual capital, board structure, dynamic panel data analysis

References

Abdul Rashid, A., Ibrahim, M.K., Othman, R. ve See, K.F. (2012). IC disclosures in IPO prospectuses: evidence from Malaysia. Journal of Intellectual Capital, 131, 57-80.
Abeysekera, I. 2010. The İnfluence of Board Size on İntellectual Capital Disclosure By Kenyan Listed Firms. Journal of Intellectual Capital 11(4), 504–518.
Akkaya, B. ve Balı, S. (2018). Entelektüel Sermaye ve Ölçümüne Yönelik Bazı Yaklaşımlar. Uluslararası Sosyal Araştırmalar Dergisi, 11(55), 1145-1161.
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Aktaş, Z. ve Atalay, M.Ö. (2020). Yönetim Kurulu Yapısı Çeşitliliğinin Entelektüel Sermaye Üzerindeki Etkisi: Bist Sürdürülebilirlik Endeksi Firmaları Üzerine Bir Araştırma. Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 22(2), 823-854.
Alfraih, M. M. (2018). The Role of Corporate Governance in İntellectual Capital Disclosure. International Journal of Ethics and Systems, 34(1), 101–121.
Ali, Basel J.A. ve Oudat, M.S. (2021). Board Characteristics and Intellectual Capital Performance: Emprical Evidence of Bahraın Commercial Banks. Academy of Accounting and Financial Studies Journal, 25(4), 1-13.
Alizadeh, R., Chashmi, S.N. ve Bahnamiri, J. (2014). Corporate Governance and Intellectual Capital. Management Science Letters, 4(1), 181–186.
Al-Musalli, M.A. ve Ismail, K.N.I. (2012). Intelectual Capital and Board Characteristics of GCC Banks. Procedia Economics and Finance, 2, 219-226.
Al-Musali, M. A. ve Ismail, K.N.I. (2015). Board Diversity and Intellectual Capital Performance: The Moderating Role of The Effectiveness of Board Meetings. Accounting Research Journal, 28(3), 268-283.
Anifowose, M., Rashid, H.M.A. ve Annuar, H.A. (2017). Intellectual Capital Disclosure and Corporate Market Value: Does Board Diversity Matter?. Journal of Accounting in Emerging Economies, 7(3), 369-398.
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Aslam, E. ve Haron, R. (2020). The Influence of Corporate Governance on Intellectual Capital Efficiency: Evidence From Islamic Banks of OIC Countries. Asian Journal of Accounting Research, 5(2), 195-208.
Baldini, M.A. ve Liberatore, G., (2016). Corporate Governance and İntellectual Capital Disclosure. an Empirical Analysis of The Italian Listed Companies. Corporate Ownership & Control, 13(2), 187–201.
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Baum, C.F. (2013). Dynamic Panel Data Estimators. EC 823: Applied Econometrics, Boston College, Spring.
Berezinets, I., Garanina, T. ve Illina, Y. (2016). Intellectual Capital of a Board of Directors And its Elements: İntroduction to the Concepts. Journal of Intellectual Capital, 17(4), 632-653.
Brooking, A. (1997). The Management of Intellectual Capital. Long Range Planning, 30(3), 364–365.
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Cardi, C., Mazzoli, C. ve Severini, S. (2018). Friend Or Foe? The Effect of Corporate Governance on İntellectual Capital Disclosure in Ipos. International Journal of Disclosure and Governance, (15), 1-12.
Carter, D.A., D’Souza, F., Simkins, B.J.ve Simpson, W.G. (2010). The Gender and Ethnic Diversity of US Boards and Board Committees and Firm Financial Performance. Corporate Governance An İnternational Review,18(5), 396–414.
Donnelly, R. ve Mulcahy, M. (2008). Board Structure, Ownership, and Voluntary Disclosure İn Ireland. Corporate Governance an İnternational Review, 6(5), 416–429.
Edvisson, L. (1997). Developing Intellectual Capital at Skandia. Long Range Planning, 30(2), 366-373.
Faisal, M., Hassan, M., Shahid, M.S., Rizwan, M. ve Qureshi, Z.A. (2016). Impact of Corporate Governance on Intellectual Capital Efficiency: Evidence From Kse Listed Commercial Banks. Scientific International, 28(4), 353-361.
Fama, E.F. (1980). Agency Problems and The Theory of The Firm. Journal of Political Economy, 88(2), 288-307.
Görmüş, A. Ş. (2009). Entelektüel Sermaye ve İnsan Kaynakları Yönetiminin Artan Önemi. Afyon Kocatepe Üniversitesi İ.İ.B.F Dergisi, 6(1), 57-75.
Haji, A.A. ve Ghazali, N.A.M. (2012). Intellectual Capital Disclosure Trends: Some Malaysian Evidence. Journal of Intellectual Capital, 13(3),377-97.
Hambrick, D. C. (2007). Upper Echelons Theory: An Update, Academy of Management Review, 32(2): 334-343.
Hatane, S.E., Tertiadjajadi, A. ve Tarigan, J. (2017). The Impact of Corporate Governance on Intellectual Capital and Firm Value: Evidence from Indonesia and Malaysia Consumer Goods. International Journal of Management and Applied Science, 3(9), 78-83.
Haykır Hobikoğlu, E. (2011). Entelektüel Sermayenin Önemi, Sınıflandırılması ve Ölçme Yöntemleri: Kuramsal Bir Çerçeve”. Sosyal Bilimler Dergisi, 1, 86-99.
Hidalgo, R.L., García-Meca, E. ve Martinez, I. (2011). Corporate Governance and İntellectual Capital Disclosure. Journal of Business Ethics, 100(3), 483–495.
Ho, C.A., ve Williams S.M. (2003). International Comparative Analysis of The Association Between Board Structure and The Efficiency of Value Added By A Firm From its Physical Capital and Intellectual Capital Resources. The International Journal of Accounting, 38(4), 465-491.
Isa, M. A. ve Ismail, L. A. (2015). The Effects of Boards Composition, Rewards and Ownerships on Intellectual Capital Efficiency of Banks in Nigeria. Issues in Social and Environmental Accounting, 9(2), 103-116.
Kamath, G.B. (2007). The İntellectual Capital Performance of Indian Banking Sector. Journal of Intellectual Capital, 8(1), 96-123.
Kamath, B. (2019). Impact of Corporate Governance Characteristics on İntellectual Capital Performance of Firms in India. International Journal of Disclosure and Governance, 16, 20–36.
Karacaer, S. ve Aygün, M. (2009). Entelektüel Sermayenin Firma Performansı Üzerindeki Etkisi. H.Ü. İktisadi ve İdari Bilimler Fakültesi Dergisi, 27(2), 127-140.
Keenan, J. ve Aggestam, M. (2001). Corporate Governance and İntellectual Capital: Some Conceptualizations. Corporate Governance Journal, 9(4), 259-275.
Khan, S.N. ve Ali, E.I.E. (2017). How Intellectual Capital Moderates the Relationship between Corporate Governance and Firm Performance in the Capital Market of Pakistan: A Conceptual Review and Proposal. International Journal of Economic Perspectives, 11(2), 359-371.
Kılıç, M. (2014). Yönetim Kurulu Yapısının İşletme Performansına Etkisi: Türkiye’de Bir Uygulama. Muhasebe Bilim Dünyası Dergisi, 16(3), 33-56.
Komala, I. ve Fuad, F. (2017). The Effects of Board Diversity on Intellectual Capital Performance: An Empirical Study from Knowledge-Intensive Companies in Indonesia. Journal of Accounting, Finance and Auditing Studies, 3(4), 137-154.
Komnenic, B. ve Pokrajcic, D. (2012). Intellectual Capital and Corporate Performance of Mncs in Serbia.Journal of Intellectual Capital, 13(1), 106-119.
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Primary Language	Turkish
Journal Section	Issue
Authors	Aysel Öztürkçü Akçay
Publication Date	September 30, 2021
Submission Date	January 24, 2021
Published in Issue	Year 2021 Issue: 53

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APA	Öztürkçü Akçay, A. (2021). Yönetim Kurulu Yapısı Çeşitliliği ve Entelektüel Sermaye Performansı: Borsa İstanbul Firmaları Üzerine Dinamik Panel Veri Analizi. Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi(53), 355-380. https://doi.org/10.53568/yyusbed.1003689

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