تأثیر توانایی مدیریت بر افزایش سرمایه گذاری در سرمایه فکری در شرکت های پذیرفته شده بورس اوراق بهادار تهران با تأکید بر نقش نگرانی شغلی مدیر عامل (مقاله علمی وزارت علوم)
درجه علمی: نشریه علمی (وزارت علوم)
آرشیو
چکیده
توانایی مدیریت در استفاده از منابع، ازطریق ایجاد مزیت رقابتی پایدار، عاملی برای افزایش سرمایه فکری و درنتیجه افزایش ارزش شرکت است و مدیران توانمند انگیزه بیشتری برای سرمایه گذاری مطلوب تر در دارایی های فکری دارند که این می تواند عملکرد شرکت را بهبود بخشد. هدف این پژوهش بررسی تأثیر توانایی مدیریت بر افزایش سرمایه گذاری در سرمایه فکری با توجه به نگرانی شغلی مدیرعامل در شرکت های پذیرفته شده در بورس اوراق بهادار تهران است. پژوهش حاضر ازلحاظ هدف، کاربردی و از بعد روش شناسی، توصیفی همبستگی از نوع علی (پس رویدادی) است. برای آزمون فرضیه های پژوهش، تعداد 149 شرکت در بازه زمانی سال های 1390 تا 1400 با استفاده از روش نمونه گیری حذف سیستماتیک از بین تمام شرکت های پذیرفته شده در بورس اوراق بهادار تهران انتخاب شدند. برای آزمون فرضیه ها از روش رگرسیون خطی چندمتغیره پانل با نرم افزار ایویوز استفاده شد. یافته های حاصل از پژوهش بیان می کنند توانایی مدیریت موجب افزایش سرمایه فکری می شود. همچنین، نگرانی شغلی مدیرعامل (عدم نفوذ مدیرعامل) تأثیر تعدیل کننده بر رابطه بین توانایی مدیریت و سرمایه فکری دارد؛ برخلاف آن، نگرانی شغلی مدیرعامل (مرحله افول شرکت در چرخه عمر) بر رابطه توانایی مدیریت و افزایش سرمایه فکری تأثیر معنی داری ندارد.The effect of management ability on the increase of investment in intellectual capital in companies listed on the Tehran Stock Exchange, emphasizing the role of the CEO's job concern
The management's ability to use resources, through creating a sustainable competitive advantage, is a factor in increasing intellectual capital and, as a result, increasing the value of the company, and capable managers have more motivation to invest more favorably in intellectual assets, which can also improve the company's performance. The purpose of this research is to investigate the effect of management ability on the increase of investment in intellectual capital according to the life cycle of companies listed on the Tehran Stock Exchange. The current research is applied in terms of purpose, and in terms of methodology, it is descriptive of causal (post-event) correlation. To test the hypotheses of the research, 149 companies were selected from 2012 to 2021 using the systematic elimination sampling method from among all the companies admitted to the Tehran Stock Exchange. To test the hypotheses of this research and determine the relationship between independent and dependent variables, econometric models have been used and the relevant hypotheses have been investigated using the panel multivariate regression method. The findings of the research show that management ability increases intellectual capital. Also, the CEO's job concern (the CEO's lack of influence) increases the positive effect between management ability and intellectual capital. Contrary to that, the job concern of the CEO (the decline stage of the company in the life cycle) does not have a significant effect on the relationship between management ability and the increase of intellectual capital.IntroductionThe life of companies depends on the proper performance of managers in the current business environment, and management is the most important factor in the success of companies in attracting investment and profitability. The future of companies depends on the decisions made by the management. Management guides the process of moving from the current situation to the desired situation. Managers are considered key to improving the performance of the organization and the decisions they make are influential in the success or failure of the organization (Ghanizadeh et al., 2021: 6). Considering the objectives of the research and paying close attention to the issue that if company managers have a dual role, they will have a significant influence on the board of directors and their job concerns may be less, and on the other hand, in the life cycle of the company, the management's job concerns are different; Therefore, in this research, the effect of management ability on the amount of investment on intellectual capital has been examined, and the role of the life cycle of the decline stage as a criterion influencing the manager's job concern, as well as the CEO's lack of influence in the board of directors, the second criterion of management's job concern, has been considered as a moderating variable. The main research question is whether management ability has a significant effect on increasing investment in intellectual capital. Does management job concern have a significant effect on the relationship between management ability and intellectual capital investment or not?Methods & MaterialThe current research is a type of applied research in terms of classification based on the objective. Also, the current research is correlational in terms of method and nature. In this research, the aim is to investigate the effect between variables. For this purpose, according to the measurement scales of the variables, appropriate indicators are selected. The data measurement scale is relative. The research method is inductive, in which the theoretical foundations and background of the research are collected through the library, articles, and the Internet, and in the rejection or proof of the research hypotheses by applying appropriate statistical methods, inductive reasoning is used in the generalization of the results. Since the variables are not manipulated and there are no laboratory conditions, this research is a type of descriptive (non-experimental) research. To carry out the hypotheses in this research, the significance test of F in multiple regression is used using Eviuse software, and EXCEL software is used to create the required database. FindingsTo review and analyze the preliminary data, firstly, the information related to the descriptive statistics of the dependent and explanatory variables studied in this research is presented in Table 4 to obtain a general overview of the data analyzed in this research. SignMeanMiddleMaximumMinimumStandard deviationSkewnessKurtosisAbility0.000-0.0020.57-.0480.140.160.88Lifecycle*Ability0.050.0001.0000.0000.224.00014.03Duality *Ability0.150.0001.0000.0000.361.981.91Ic5.224.255.92-62.595.542.2136.02Roa0.140.120.67-0.580.150.540.97Lev0.560.561.820.030.20.150.73Fs14.6414.3821.3310.171.690.840.96Age3.613.694.252.40.38-0.58-0.52Sg0.360.2718.17-0.910.6912.48287.74Br2.651.6976.630.583.459.46152.29Sos0.621.0001.0000.0000.48-0.52-1.742Lob0.660.601.0000.0000.18-0.220.15 Conclusion & ResultsAccording to the above table, the main central index is the average, which indicates the balance point and the center of gravity of the distribution and is a good indicator to show the centrality of the data. For example, the average value for the board independence variable is equal to (0.66), which shows that most of the data are concentrated around this point. In general, dispersion parameters are a measure to determine the degree of dispersion from each other or the degree of dispersion of them compared to the average. One of the most important dispersion parameters is the standard deviation. The value of this parameter for the intellectual capital variable is equal to 5.54 and for asset return is equal to 0.15, which shows that these two variables have the highest and lowest standard deviation, respectively.The results of the first hypothesis of the research are in line with the stated theoretical foundations and the results of the research of Nadeem et al. (2021) and Jalalian and Jamie (2019). Based on the analysis of the second hypothesis, it can be stated that the job anxiety caused by the company's urgency in the period of decline cannot significantly moderate the effect of management ability and intellectual capital. This result does not match the theoretical foundations of the research. It was stated that the life cycle of the company affects management opportunities to manage ongoing projects and reduce costs to increase intellectual capital. So, the second hypothesis is not accepted. The results of this hypothesis are related to the results of the research of Esnaashari & Naderi Nooreyni (2016) and Narayan et al. (2017). Finally, with the analysis obtained from the third hypothesis, it can be said that following the theoretical foundations, the CEO's job anxiety caused by his lack of influence on the board of directors will have a significant effect on the relationship between management ability and the amount of investment in intellectual capital, and as a result, the third hypothesis of the research is accepted. In the analysis of this result, it can be stated that more capable CEOs invest more in intellectual capital, and in this regard, it can be expected that when the CEO's job concerns are really low (due to other factors), the link between the CEO's ability and intellectual capital investments will be less strong (Yuan, et al, 2019). The results of this hypothesis are in line with the research results of Degeorge et al. (2013).
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