Measuring the Effect of the Relationship Between Intellectual Capital and Sustainability Performance on Firm Value: An Applied Study on Firms Listed on the Egyptian Stock Exchange

Document Type : Original Article

Authors

1 Accounting Department Faculty of commerce, Cairo University

2 Accounting Department at the Higher Institute of Computers and Information Technology - Al-Shorouk Academy

Abstract

The study aimed to investigate the relationship between intellectual capital components and firms' sustainability and its impact on firms' value. To achieve that, an applied study conducted on a sample of (61) firms listed on EGX 100 index, during the period from 2016 to 2020, with total number of (248) observations.
By using the least squares regression analysis (OLS), The results showed that there is a significant positive effect for human capital and structural capital on firms' sustainability, while relational capital has no effect on firms’ sustainability. Accordingly, the first main hypothesis was partially accepted. The results also showed that human capital has a significant positive effect on firms' value, and firms' value doesn't affect by both structural capital and relational capital. Accordingly, the second main hypothesis was partially rejected. The results also showed that firms' sustainability has a significant positive impact on their market value. Accordingly, the third main hypothesis was accepted.
Finally, the results showed that the interacting relationship between human, structural capital and sustainability performance has a significant positive effect on firms' value, and firms' value doesn't affect by the interacting relationship between relational capital and sustainability performance.

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