Experimental Evidence on Factors Impacting Intellectual Capital: A Bayesian Approach

Abstract

The study analyzed factors influencing the effectiveness of intellectual capital investment in the pharmaceutical industry in Vietnam during the period 2013–2023. By employing the Bayesian approach, the research findings indicate that firms with developed IT systems, facing fewer barriers to enter large markets, and utilizing high financial leverage tend to experience reduced efficiency in utilizing intellectual capital. Conversely, firms that heavily invest in intellectual capital, possess larger scales, and demonstrate operational effectiveness tend to enhance their efficiency in utilizing intellectual capital. Understanding these factors can enable businesses to optimize their strategies, improve competitiveness, and contribute to the sustainable development of the pharmaceutical industry.