文章基本信息

标题：How do market capitalization and intellectual capital determine industrial investment?
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作者：Umar Farooq ; Mosab I. Tabash ; Suhaib Anagreh 等
期刊名称：Borsa Istanbul Review
印刷版ISSN：2214-8450
出版年度：2022
卷号：22
期号：4
页码：828-837
语种：English
出版社：Elsevier B.V.
摘要：Market capitalization and intellectual capital can be understood as two main that can play a dynamic role in multiple organizational decisions. Given that, the current study examines the role of market capitalization and intellectual capital in determining corporate investment decisions. In our empirical analysis, we use 10 years of financial information, from 2010 to 2019, for nonfinancial publicly listed corporations in three economies: China, India, and Pakistan. In our regression estimation, this study employs the panel-EGLS (estimated generalized least squares) and two-step system generalized method of moments techniques to address the problems of heteroskedasticity and endogeneity. The statistical analysis first reveals the positive significant effect of market capitalization on investment decisions because of the availability of sufficient funds for investment. It then substantiates the significant role of human capital, structural capital, and capital employed efficiency in protecting industrial investment. The empirical findings offer policy implications on how market capitalization (MC) and intellectual capital (IC) promote investment decisions.