The impact of intellectual capital on financial performance of construction companies listed on the stock market in Vietnam

Abstract

The paper examines the impact of intellectual capital on the financial performance of construction companies listed on the Vietnamese stock market. Data were collected from 62 companies in the period 2018 to 2022. Value added intellectual coefficient (VAIC) was utilised to evaluate the intellectual capital of the companies. Two ratios: return on assets (ROA) and market-to-book value (MB) were used as the indicators of financial performance. The findings indicate the positive impact of intellectual capital on financial perfornamce and may still be considered as the key resources in delivering business success of companies.