Search Results (3)

The tourism industry has grappled with the challenges posed by the onset of the coronavirus disease (COVID-19) since the start of 2020, experiencing a complete lockdown that profoundly affected travel activities. This viral outbreak had a critical impact on both the financial and non-financial aspects of life, including the intellectual capital (IC) of the tourism and hospitality sectors. However, there is a scarcity of studies addressing this issue within the context of tourism-related businesses. Thus, this paper aims to investigate the changes in the overall IC and its components before and during the COVID-19 pandemic, with a specific focus on understanding the transformation of IC in the tourism industry of Thailand, a country that is highly dependent on tourism. The study involved 37 tourism-related companies listed on the Stock Exchange of Thailand (SET). Organizational data from financial and annual reports published between 2019 and 2020 were collected for analysis. The assessment of value added intellectual capital (VAIC^TM) was employed to evaluate the performance of the overall IC and its components during the pandemic. The results, based on the testing of four hypotheses, indicated that most hypotheses were accepted, signifying a substantial transformation in the overall IC performance of tourism-related companies during the pandemic crisis. This transformation was observed in the IC components of physical and human capitals. However, the structural capital was the only IC component that did not experience a significant impact from COVID-19. To comprehend the reasons and effects of the IC transformations during the pandemic, this study delved into the relevant literature. Additionally, the paper includes implications to support firms in preparing for future challenges. Full article

The COVID-19 pandemic resulted in significant changes to business operations, particularly addressing human resources and their role within the firm. This study aims to assess the sustainability of human capital efficiency in the hotel industry, including the early effects of the COVID-19 pandemic. In accordance with the value-based approach, the human capital efficiency (HCE) coefficient was calculated on a sample of 157 hotels in a five-year period, including the year in which the pandemic was declared. We employed a quantitative methodology based on the VAIC^TM method of assessing human capital efficiency and Annual Compounded Growth Rate (ACGR) to evaluate the trend of human capital efficiency. The research results showed a change in the trend of human capital efficiency in the hotel industry in 2020, as well as a change in the mean value of the HCE coefficient. Hotels with a higher category demonstrated a better ability to create value using human capital. The contribution of this work is represented in the quantification of the sustainability of human capital efficiency in the observed period and the early impact of the COVID-19 pandemic on the value-added efficiency of human capital in the hotel industry. Full article

In this study, the Value Added Intellectual Capital (VAIC^TM) and Modified Value Added Intellectual Capital (MVAIC^TM) models are utilized to analyze intellectual capital (IC) performance of the textile industry in China and South Korea during 2012–2017, and measure the contribution of IC sub-components to companies’ performance. The results show that the aggregate IC positively affects earnings, profitability, and productivity of textile companies in China and South Korea. At the sub-components level, the contribution of capital employed efficiency (CEE) is the largest, followed by structural capital efficiency (SCE), and relational capital efficiency (RCE) in China’s textile industry. In addition, Korea’s textile industry relies heavily on CEE and human capital efficiency (HCE), while the contribution of RCE is relatively small. Finally, relevant policies are put forward to promote the sustainable development of the textile industry in these two emerging markets. Full article